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Compliance-Enabling Technologies

The creators of a top “altcoin” are building privacy features for JPMorgan’s blockchain platform. Source: Worlds collide: JPM works with team behind anonymous crypto Zcash | American Banker This is a well written and well-cited article. If you study the article and make use of all the hyperlinks, you will have learned a lot.

Compliance in financial services could be revolutionized by financial technology, which holds the potential of making the processes more efficient for firms and regulators alike, according to Jude Scott, chief executive of Cayman Finance. Source: How Fintech Could Cause a Revolution in Compliance – Risk & Compliance Journal. – WSJ

The Financial Industry Regulatory Authority (FINRA) published a white paper [full text] on the potential implications of blockchain (also known as “distributed ledger technology” or “DLT”) for the securities industry. The FINRA report seeks comment on a number of legal and policy questions, with submissions due March 31.

The Financial Times reported that thousands of regulatory and compliance jobs will disappear “as the world’s biggest banks harness artificial intelligence systems.” “In a report called ‘digital disruption’ sent to clients this week, Citi said there was a ‘huge cost take-out opportunity for financial institutions’ from the fast-growing area of regulatory technology or regtech.”

Last week, the American Banker featured a podcast in which David Weiss, a senior analyst at Aite Group, discussed the IBM/Promontory deal and “how humans and artificial intelligence programs will interact in the field of bank regulatory compliance.”

For several years, Box CEO Aaron Levie has been trying to get people to understand his company is not in the storage business. To drive that point home.. Source: New Box product will let you choose storage from IBM and AWS